CORE LITHIUM LTD — Investor Presentation 2012

Mar 26, 2012

Presentation to Investors Australian Copper Conference Brisbane 27-28 March 2012

Disclaimer

• This document has been prepared by Core Exploration Limited (“Core”, “Company”) and provided as a basic overview of the tenements held or controlled by the company. This presentation does not purport to be all-inclusive or to contain all the information that you or any other party may require to evaluate the prospects of the Company.

• None of the Company, any of its related bodies corporate or any of their representatives assume any responsibility for, or makes any representation or warranty, express or implied, with respect to the accuracy, reliability or completeness of the information contained in this document and none of those parties have or assume any obligation to provide any additional information or to update this document.

• To the fullest extent permitted by law, the Company, its related bodies corporate and their representatives expressly disclaim liability for any loss or damage arising in respect of your reliance on the information contained in this document (including your reliance on the accuracy, completeness or reliability of that information), or any errors in or omissions from this presentation, including any liability arising from negligence.

• The mineral tenements of the Company as described in this presentation are at various stages of exploration, and potential investors should understand that mineral exploration and development are high-risk undertakings.

• There can be no assurance that exploration of the Tenements, or any other tenements that may be acquired in the future, will result in the discovery of an economic ore deposit. Even if an apparently viable deposit is identified, there is no guarantee that it can be economically exploited.

• This document contains statements which may be in the nature of forward-looking statements. No representation or warranty is given, and nothing in this presentation or any other information made available by the Company or any other party should be relied upon as a promise or representation, as to the future condition of the respective businesses and operations of the Company.

Investment Overview

• Core Exploration (ASX:CXO) offers an investment opportunity into one of the world’s leading copper mining and exploration provinces.

• Core’s first diamond drilling program hit copper mineralisation this month on the 100%-owned Yorke Peninsula Project in South Australia

• Copper sulphides found with zones of IOCG (Iron Oxide Copper Gold) style alteration

• Core’s large-scale gravity and magnetic drill targets on the Yorke Peninsula project are hosted in an analogous geological and structural setting to Rex Minerals’ (ASX:RXM) Hillside Project on an adjacent tenement.

• Drill core assay results expected in April

Tight capital structure with huge-leverage to exploration success

Yorke Peninsula Project - Copper

• Project covers 243km[2] in analogous geological setting adjacent to Rex Minerals’ (ASX:RXM) Hillside Project (Inferred and Indicated Resource of 217Mt at 0.7% copper and 0.2g/t gold)

• Recent diamond drill program has hit low levels of copper mineralisation associated with IOCG-style mineralisation

• YP Project within Olympic IOCG province (e.g. Olympic Dam, Prominent Hill, Carrapateena)

• Assays expected in April

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Drilling recently completed on YP

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Wauraltee Prospect

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Drill hole positions and geophysical models(Red =
gravity, blue = magnetics) overlain on magnetic image
at Core Exploration’s Wauraltee Prospect, Yorke
Peninsula Project, S.A.
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• Copper sulphides intersected in all 3 holes drilled at Wauraltee Prospect

• Only 350m of the 1,500m length of the Wauraltee geophysical model tested by drilling so far

• Zones of alteration and mineralisation steeply dipping and same orientation as main Palace Structural Zone

• Opens potential of 12km zone to host copper deposits and control IOCG mineralisation

• Similarities to Hillside structural setting within the nearby Pine Point Fault Zone

Wauraltee : Copper sulphides with IOCG Alteration

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Albite dominant (”Red-rock”) alteration and sulphide veining comprising pyrite (iron sulphide) and minor chalcopyrite (copper sulphide) in drill hole WTDD008 at 199m.

• Copper sulphides (chalcopyrite) were identified in association with IOCG style alteration at Wauraltee

• Drilling successfully identified the geological source of the targeted semi coincident gravity and magnetic anomalies

• Host rocks consist of dolerite and gabbro intercalated with granites, interpreted to belong to the Hiltaba Suite and Wallaroo Group metasediments

• Alteration (up to 15m wide) consist of albite-epidote-amphibole-carbonate +/magnetite, pyrite + chalcopyrite + trace chalcocite.

Wauraltee - Drill Core Summary

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Hole	From	To	Comments
WTDD001	161m	217.5m	Deformed and altered dolerite, with epidote + amphibole + carbonate + albite alteration and veining, variable pyrite and minor chalcopyrite.
WTDD002	151	247.5	Deformed and altered coarse grained gabbro with 10cm to 1m thick zones alteration and veining of carbonate + amphibole + biotite + albite + epidote +/- minor chalcopyrite + pyrite + trace chalcocite.
WTDD008	188.05	205	Felsic intrusive dominated by pervasive red rock alteration of albite + epidote, pyrite +/- magnetite, amphibole and chalcopyrite. Small veins of pyrite and lesser chalcopyrite occur throughout this interval.

Zone of intense amphibole rich alteration with associated chalcopyrite and possibly chalcocite in drill hole WTDD002 at 247.5m.

Wauraltee: Drill Core Photos

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Zone of amphibile-epidote-albite-pyrite alteration with associated chalcopyrite in drill hole WTDD001 at 164m.

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Pegmatitic quartz-carbonate-amphibole vein with associated chalcopyrite on margins in drill hole WTDD002 at 250m.

YP Project : Next Steps

• Receive and interpret assay results of recent 2,000m diamond drill program

• Recommence drilling and exploration on the Yorke Peninsula ASAP

• Prospect scale geophysics of Wauraltee and other highpriority targets in and around the 12km Palace Structural Zone – April 2012

• Expanded diamond drilling program at Wauraltee Prospect – as early as May 2012

• Follow up drilling of best results from other targets

• Drill new targets prioritised on new geological information from recent drilling

Fitton Project : Copper/Uranium in northern SA

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• Mines and large deposits within the region:

• Beverley Uranium Mine (Gen. Atomics)

• Four Mile 61 Mlbs @ 0.35% U3O8 (AGS)

• Mt Gee 68 Mlbs @

  • 0.06% U O 3 8

• Covers “Radium Creek“ uranium rich rocks

• Proven world-class uranium mining district

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Fitton Project Outstanding early results

• 2,000m long shear zone in granite

• 10.5% copper and 624ppm uranium in outcrop samples

• Coincident copper/uranium soil anomaly indicate zone up to 1000m wide

• Ground magnetics, mapping, rock chips and infill soils to commence next month

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• Drilling planned for 2[nd] Qtr

2012

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Fitton Project

Copper in soils Uranium in Soils

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Roxby Downs Project - Copper

• Two tenements covering over 400km[2 ] in the core of the Olympic Dam / Carrapateena IOCGU Zone

• Project located 40km south of Olympic Dam and within 10km of BHPB’s Wirrda Well prospect

• EL with 10km gravity feature recently granted

• Grant of 2[nd] ELA expected soon

• Core looking for JV Partner to fund drilling of IOCGU targets

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Forward Exploration Program

• Assays from recent YP drilling expected in April

• • Expanded diamond drilling to re-commence in May on Yorke Peninsula

• Ground magnetics, rock chip sampling and geological mapping to commence on Fitton project next month

• Grant of 400km[2] EL expected soon near BHPB’s Olympic Dam and Wirrda Well – Core is looking for a JV with senior partner

Project Q2 2012 2H 2012 Yorke Peninsula Drilling Drilling Fitton Drilling Drilling Roxby South Geophysics JV?/Drilling

Summary

• Copper mineralisation hit in first diamond drill program on the Yorke Peninsula in S.A.

• Currently undervalued investment with huge upside leveraged to copper exploration success (tight capital structure - only 41.5M shares)

• Well funded to execute strategy, deliver results and value

growth in 2012

CXO : Capital Structure

• Shares on issue

41.5M

• Options (25c)

• 8.5M

• Share Price

~$0.14

• Market Cap (undiluted)

• • Cash (31 Dec 2011)

~$6.0M

$3.4M

Small downside risk with huge upside leveraged to copper exploration success on Yorke Peninsula S.A.

The information in this report has been compiled by Stephen Biggins (BSc(Hons)Geol, MBA) as Managing Director of Core Exploration Ltd and who is a member of the Australasian Institute of Mining and Metallurgy and is bound by and follows the Institute’s codes and recommended practices. As a Competent Person, he has a minimum of 5 years relevant experience in the style of mineralisation and types of activities being reported and has given written consent to the above report in the form and context in which it appears.